Valeo on Monday said it now expects global automotive production to recover at a faster rate than forecast last July. It now sees a 19% year on year increase for full year 2010 versus 16% predicted.
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“Valeo is continuing to outperform its main markets and the group’s revenues in the second half should be significantly above what was expected in July,” the supplier said in a statement.
It will revise full year guidance when it announced Q3 sales on 21 October.
In July, Valeo reported profit of EUR168m (US$225m) for the first half of 2010 compared with a year ago loss of EUR213m.
